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2015.01.0823:48:35UTC+00Fed's Kocherlakota: drop in oil prices good for U.S. Economy

Narayana Kocherlakota said that the drop in oil prices put money in the pockets of consumers and is basically “a good thing” for the economy of the U.S.

He also mentioned that the oil price drop will put downward pressure on drilling and on production in North Dakota, where the local economy has been experiencing an oil-driven boom for the past several years. 

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